ASIATODAY.ID, KINABALU – Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP EAGA) has the potential to become a trade nexus in the Indo Pacific.
Assistant Deputy for Regional and Sub-Regional Economic Cooperation at the Coordinating Ministry for the Indonesian Economy, Netty Muharni, conveyed this at the 27th Senior Official Level Meeting for BIMP EAGA Sub-Regional Cooperation, on Tuesday, October 15 2024, in Kinabalu City, Malaysia.
This statement was made in response to the proposed reconfiguration of the BIMP EAGA economic corridor, the study of which has entered the final stage.
The assessment study Strategic, Spatial, and Socially Inclusive: An Integrated Approach to BIMP EAGA Economic Corridor Development, reviews the relevance of the BIMP EAGA economic corridor which was approved in 2007. The results of the study show the need for reconfiguration of economic corridors, potential connectivity, and potential value chains, both in domestic and sub-regional scale.
Indonesia welcomed the results of the study and stated that the report implied the great potential of BIMP EAGA as a global trade link for the Indo-Pacific.
Indonesia emphasized that next it is necessary to identify challenges and opportunities, as well as develop appropriate programs and projects to achieve this prospect.
BIMP EAGA High Officials met to provide guidance on the development of projects and programs from 9 clusters, assessment reports on economic corridors, as well as preparations for the celebration of 30 years of BIMP EAGA cooperation.
In 2023, BIMP EAGA’s economic growth and investment will show a positive trend and tourists coming to the sub-region will also increase. This is quite encouraging amidst uncertain global conditions.
“For approximately 30 years the BIMP-EAGA collaboration has been running, we need to continue to make creative breakthroughs to strengthen the integration of connectivity, trade and various other priority strategic sectors in BIMP EAGA. “This collaboration has had and continues to have positive benefits for the sub-region,” said Netty.
Furthermore, Indonesia also appreciates the various projects that have been carried out throughout 2023-2024. Several connectivity projects include the Manado – Kinabalu City, Jakarta – Kuching, Manado – Davao and Bali – Kinabalu City air routes.
Indonesia also emphasizes the importance of continuing existing connectivity, such as the Tanjung Silopo – Lahad Datu sea route which will open in 2024.
“Immediately initiate collaborative meetings between related clusters to identify CIQS issues and other technical problems which have been one of the obstacles to cross-border trade in the sub-region,” concluded Netty.
BIMP EAGA is currently aggressively promoting the blue economy, clean energy transition and renewable energy. As an implementation, there have been several programs such as the Renewable Energy Capacity Building Program (RECAP) and the Green Cities Action Plan (GCAP) which are spread across various cities such as Kendari, Pontianak, Kinabalu City and General Santos City.
Marine and maritime conservation is also an important agenda in sub-regional cooperation in collaboration with the Asian Development Bank (ADB) for the preparation of the 2030 Blue Economy Strategy.
The meeting was chaired by Deputy Secretary General of the Malaysian Ministry of Economy Datuk Dr. Zunika Binti Mohamed was attended by Senior Officials from Brunei Darussalam, Senior Officials from the Philippines, Asian Development Bank, ASEAN Secretariat, BIMP EAGA Facilitation Center, and BIMP EAGA Business Council. (AT Network)
Follow Us at Google News and WA Channel